KUALA LUMPUR, Aug 1 (NNN-BERNAMA) – Malaysia’s Retirement Fund Inc, which manages the pension scheme for the country’s public employees, said yesterday that, its net income surged to 9.7 billion ringgit (2.11 billion U.S. dollars) in 2023, from 263 million ringgit in 2022.
The fund, known by its Malay acronym KWAP, said in a statement that, it delivered a strong total fund investment return of 8.2 percent for the year.
The fund’s size also grew from 158.1 billion ringgit in 2022, to 169.8 billion ringgit in 2023, marking a 7.4 percent growth.
The fund’s Chief Executive Officer, Nik Amlizan Mohamed said, its performance in 2023 builds on the strong track record in meeting financial and social objectives. “These results validate the effectiveness of our investment model to generate sustainable returns for our stakeholders,” she said. (1 Malaysian ringgit equals 0.22 U.S. dollar)– NNN-BERNAMA
